Beta-glucans and phenolics were extracted from waxy barley using pressurized aqueous ethanol in a stirred batch reactor at 25bar and 500rpm. The effect of temperature (135–175°C), extraction time (15–55min) and ethanol content (5–20%) was evaluated. Temperature had an opposite effect on the extraction of both compounds. The higher the temperature, the lower the β-glucan extraction yield due to fragmentation, but a significant increase on the phenolic recovery was observed. Long extraction times favored the extraction of β-glucans at low temperatures and phenolics at any temperature. The ethanol content was not statistically significant on the β-glucan extraction, but helped to maintain the molecular weight of the extracted β-glucan. To obtain liquid extracts rich in high molecular weight β-glucans and phenolics, mild conditions of 151°C, 21min and 16% ethanol are needed, leading to 51% β-glucan extraction yield with a molecular weight of 500–600kDa and 5mgGAE/g barley.